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Growth in Vietnam's factory sector improved slightly in October as output and new orders increased and the rate of job creation reached a nine-month high, a private survey showed Monday.

The HSBC/Markit Manufacturing Purchasing Managers' Index (PMI) posted 51.0 in October, down slightly from the September’s reading of 51.7, but still signalling an overall improvement in operating conditions in the sector, Markit Economics said in a statement.

A reading above 50 indicates expansion, while one below 50 indicates the activity shrank during the month.

“Vietnam is on a gradual path to economic recovery,” the statement quoted Trinh Nguyen, Asia Economist at HSBC as saying.